PETROLEUM (ONSHORE) ACT 1991 - SECT 32
Direction to holder of exploration licence to apply for lease
PETROLEUM (ONSHORE) ACT 1991 - SECT 32
Direction to holder of exploration licence to apply for lease
32 Direction to holder of exploration licence to apply for lease
(1) If
petroleum is discovered in land comprised in an exploration licence the
Minister may, by instrument in writing, direct the holder of the licence to
apply, within such period as may be specified in the direction, for an
assessment lease or a production lease in respect of so much of that land as
is so specified.
(2) If the holder of an exploration licence does not apply
for an assessment lease or production lease in accordance with directions
given under this section, the Minister may cancel the licence.
Note :
Section 22A (4) specifies the time at which cancellation of a petroleum title
(which includes an exploration licence) takes effect.
